Social Security On the Ropes

Seems like this year Social Security will pay out more money than it has coming in so it will have to start paying benefits out of the reserve. The SS Fund is now expected to be depleted in about 16 years unless Congress changes some things.

Our vaunted Medicare plan will be bankrupt in about 8 years.

These Ponzi schemes were not designed for the type of population we have now and it will only get worse.

Toolsmith....you are correct that the lower birthrate, especially among whites, affects SS because we have fewer workers paying into the system. The bigger problem is that a system which was intended to pay a few bucks to people whose average age at death was 61.7 in 1935 is now paying lots more money to people who live to an average of 80 years. It is true that Americans who live longer pay more into the system but it is also true that more Americans live long enough to collect than ever imagined.

Another odd benefit is the one where both my wife and I worked and thus, we both get SS. She dies before we start our SS. Read this inane and arcane paragraph from our government....

You can collect a monthly survivor benefit as early as age 60, but at this age you will only receive about 70% of the amount you could get if you wait until your survivor full retirement age (which is age 66 for people born in 1945-1956 and will gradually increase to age 67 for people born in 1962 or later.) Note: full retirement age to qualify for survivor benefits uses a different date of birth table than full retirement age to qualify for your retirement benefit.

If you are disabled, you can collect a Social Security survivor’s benefit as early as age 50.
You can collect at any age if you are caring for a child of the deceased spouse who is under the age of 16.

No wonder the scumbag GOP/e and poverty pimp democrat plantation owners want to import and naturalize more foreign "donors" by giving them amnesty.
Somebody's got to take responsibility for all the IOUs.